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In a bid to reach more number of Salman Khan fans, Mandana Retail Ventures, which has the licence for the superstar’s Being Human brand of clothing, is moving from the metro markets to 2 & 3 towns with its exclusive and franchise stores.
However, the retail company is not planning to lower its prices (average ₹1,500) for the smaller price sensitive markets and is even staying from e-commerce as it does not believe in giving discounts.
“The reason for moving to tier-II and tier-III markets is to reach all the fans of Salman Khan. But, we will not have different styles or pricing as the spending power in such places is as good as the metro markets where consumers are equally aspirational,” said Manish Mandhana, Director, Madhana Retail Ventures, during the earnings call.
The company has stepped up the royalties for the Being Human brand which it gives the Salman Khan Foundation from 3 per cent to 5.75 per cent for the next three years.
Besides smaller markets also comprise the bulk of e-commerce sales due to lack of brick & mortar stores. But since Mandhana Retail wants to stay away from giving discounts, it is not willing to drop prices or even give discounts to retain its premium image in the apparel segment.
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